Section 7 in The Punjab Co-operative Land Mortgage Banks Act, 1957
7. Issue of debentures by the Board.
- With the previous sanction of the Trustee, the State Bank may issue debentures of one or more denominations for such periods as it may deem expedient on the security of the mortgage and other assets transferred or deemed under the provisions of section 25 to have been transferred by the Primary Land Mortgage Banks to the State Bank or on the security of all or any of the assets and properties of the State Bank.
